E & L Transport Services
has been acquired by
Transforce Income Fund
Corporate Finance Associates
As one of Canada's first freight forwarder, Larry Boulet, the Principal, was a pioneer in the industry. When it came time to sell in early 2007 after more than 30 years in the business, he felt CFA had the right talent to take the company to the market.
Shipping commodities along the Eastern Seaboard, Montreal based, E & L Transport Services provides unparalleled personal logistics services. Some of its customers have been with the company for over 20 years. A low cost operator with revenues in excess of $22 million, it had a track record of delivering consistent and growing bottom-line results since the Company's inception in 1976.
After a few short months on the market, and a handful of strong offers, TransForce Income Funds' offer emerged as the Larry's preference. TransForce is Canada's largest diversified transportation company with revenues in excess of $2 billion dollars.
TransForce saw an opportunity to create value for its shareholders by acquiring a successful operating company and supporting Larry's drive for constant improvement.
From start to finish, the transaction closed in a record of 5 months.